Twitter Might Be Conducting Massive Layoffs Soon

Trending News: Twitter Might Be Laying Off 8% Of Their Workforce

Why Is This Important?

Because Twitter is having a real hard time these days, and nothing seems to be turning it around.

Long Story Short

The social media app is planning to lay off as many as 300 people, or 8% of its workforce, as early as this week.

Long Story

Twitter just can’t get a break. Desperate to find a buyer, and failing, the company is now about to take an axe to its staff, according to Bloomberg.

Citing unnamed people familiar with the matter, Bloomberg says both the number of layoffs and the planning of it could change over the coming days. It’s likely that the announcement will come before Thursday’s release of Twitter’s third-quarter earnings. Twitter declined to comment.

There is speculation that the hammer will drop hardest on the company’s sales team, which hasn’t been able to generate the same growth that Facebook and Snapchat enjoy. It has also been dogged by little to no growth in the number of users.
Twitter has had a rough go ever since founder Jack Dorsey returned to take over as CEO last year. Dorsey initiated a round of painful layoffs and openly put Twitter on the market, hoping to find a major company to absorb it.

But despite some reported interest from Disney, Salesforce.com and Google’s corporate parent Alphabet Inc., no deal ever materialized. (Some reports say the app’s notorious trolls scared away Disney and Salesforce, who didn’t want to be associated with some of the Internet’s most vile people).

Over the past year, Twitter’s stock price has plummeted over 40%, to about $17.50 a share. Whether their new partnership with the NFL will help matters remains to be seen.

Own The Conversation

Ask The Big Question

Will the Internet’s favorite place for anonymous personal attacks and spewed invective survive this crisis?

Disrupt Your Feed

If it does go under, there’s a good chance a lot of reporters and journalists will breathe a secret sigh of relief

Drop This Fact

According to TwitterCounter.com, Katy Perry is believed to be the most followed person on Twitter, with 93.7 million followers. Justin Bieber (89 million), Taylor Swift (81 million), Barack Obama (78 million) and Rihanna (67 million) round out the top five.